Gas prices have increased by over 50% since the war on Iran started. As we’re seeing more and more Americans priced out of their primary form of transportation, oil companies are reporting record profits, with first-quarter earnings more than double what they made in Q1 2025. A windfall profits tax on large oil companies—specifically, a per-barrel charge that’s 50% of the price differential between oil this year and last year—would help prevent this level of profit at the public’s expense, while generating revenue that supports the Highway Trust Fund throughout the federal gas tax holiday.